Bonaparte Capital Corp.
TSX VENTURE : BON.P

February 05, 2010 18:36 ET

Bonaparte Announces Exchange Acceptance of Qualifying Transaction-Will Resume Trading on Monday, February 8, 2010

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 5, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Bonaparte Capital Corp. (TSX VENTURE:BON.P) ("Bonaparte" or the "Company") is pleased to announce that the TSX Venture Exchange (the "Exchange") has approved the Company's proposed qualifying transaction whereby the Company will be granted the option to acquire a 50% interest in the Rosy Property, as described in the filing statement filed by the Company on January 29, 2010 on SEDAR (www.sedar.com). As a result, effective at market open on Monday, February 8, 2010, the Company expects to resume trading under the trading symbol "BON" and the Company accordingly will no longer be considered a Capital Pool Company within the meaning of the Exchange Policy 2.4.

The Rosy property is located in the southern Yukon Territory, approximately 75 kilometres northeast of the city of Whitehorse. It covers an area of approximately 1,700 hectares and is comprised of 90 contiguous, quartz mineral claims. ATAC Resources Ltd. ("ATAC") holds a 100% interest in the property and there are no underlying royalties or other interests.

The Company can acquire the interest in the Rosy property by: (i) paying ATAC an aggregate amount of $50,000; (ii) incurring an aggregate amount of $1,000,000 in exploration expenditures on the property; and (iii) issuing ATAC an aggregate amount of 1,500,000 common shares, all on or before December 31, 2012. The Company (or an independent contractor if mutually agreed by the Company and ATAC) will act as operator for all exploration expenditures to be incurred by it in respect of the option earn-in. If the Company completes the earn-in of the option, ATAC is expected to become an insider of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

Randy Saunders, President and Director

Statements in this news release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as the statements that: (i) the Company will resume trading on February 8, 2010; (ii) Bonaparte will complete the earn-in of the option; and (iii) that the earn-in will occur, if at all, by December 31, 2012. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including the risks that the Company will not resume trading on February 8, 2010 and that the earn-in may not occur for any reason. Actual results in each case could differ materially from those currently anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Bonaparte Capital Corp.
    Randy Saunders
    President
    (604) 484-8750
    (604) 484-8755 (FAX)